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tv   Cavuto  FOX Business  February 27, 2014 8:00pm-9:01pm EST

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neil: 1.6 million cars. thirty-three crashes are the h neil: 1.6 million cars. thirteen crashes. welcome, everyone, i am neil cavuto and those are the major numbers. even warning about potential
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fatalities. but only now is gm addressing this. it took them a nanosecond to jump all over toyota when it was having acceleration issues. whether it's one of our own or one word union own or one of our individual. and toyota would just be needing a tongue lashing. gm got away with what looks like murder. $35 million for dismissing a problem that could have killed 13 people. compare that to 13 million and former national transportation safety had to this is only tragic but it's criminal.
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and no one ever intends to kill people. but clearly dragging its feet and addressing something about clearly was these issues here. doesn't? >> oh, absolutely. it is hard to believe that they did this for that long. particularly since they were in conversation wiih the national trafffc highway safety administration back in 2001. it was caused by -- caused by a failure of the ignition and the steering and the power brakes. and yet even from 2007 through 2014, general motors did nothing. neil: it's always easy to play monday morning quarterback. through which we were getting gm
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ennineers. do you have any way to explain the difference in treatment that thee are getting versus what they instantly got? >> i don't think there's much difference. they try to cover it up and one a terrible crash occurred that's when the national press picked it up and toyota got zonked as it should have. neil: you're quite right about that. but i do remember that there was a great deal of federal hearings and the like. i wonder whether that open the double standard with two different issues here. >> i think this is a terrible
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defect. it's outrageous that general motors can do this back in 2007 at the latest. but i think that it hasn't played out just yet. i think that there will be congressional hearings and that general motors will get what it can. one of the things i'm concerned about is that the national highway traffic safety administration has not issued an interpretation that it was required to issue last october when they raise the penalty from 17 to 35 million. to avoid giving that higher penalty this is much too low and it should be in the 200 million-dollar range and i hope that congress will finally raise it in the new legislation that is coming out so they get a serious penalty. were the justice department can put in jail or fine a company
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that misleads the government or doesn't inform the government. and we haven't seen this play out yet. also the new president was head of all of the product development that was overseeing quality control and as far as i know she did nothing but she was not the one who apologized to be one someone can a kind of left in the lurch. do you think that all of the problems that they were having beers later contributed to going
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slow on this investigation? >> i think that was a part of it. and together it is the recipe for disaster that was formed to try to take care of it. >> this was well out there. the last thing you wanted to do is get bad press. >> does come the word didn't get out to the publicly it should have. there are many questions to be asked theirrtoo many unanswered questions of how and where and when. this is taking care of properly
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we wouldn't be at this point. >> we did reach out to see if general motors would come on. saying that ensuring our customer safety is our first order of business. we are deeply sorry and working to address this issue as quickly as we can. that is a guy who sells these cars, even those that have nothing to do with what happened here. people say i'm going to go slow? >> that's normal, of course they're going to. but how fast would they react so they can react our customers? they did give us a high level of comfort in that sense, telling us exactly what to do when a customer comes in and what to say as far as the fix those. >> but did any of you guys go back and do you really couldn't help but us out here and given give us the heads up?
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>> i think that some well and i think that it's going to happen. >> they talk about this and then i'm? >> there hasn't been any discussion about that at all. everything has been focused on customer safety ann getting customers back into this. >> i had never seen general motors move so quickly on such an issue in such a short period of time. forty-six week is an incredible amount of time and now has just opened up and it's been 10 years. it's funny that we can fix this and 46 week. >> it is ironic. in the meantime, a man whose daughter was killed in one of these back in 2010. and now he's fuming and demanding answers. here and only here tomorrow. have you ever asked yourself what is really the deal?
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neil: we are getting a lot of you asking that. what is the deal, neil. well, exactly. we've made a segment out of it than a lot of you can't stop talking about it. at the end of the night, don't be surprised if you hear me responding to you that night. no matter how nicely it is. consider these comments just trickling in this hour over whether i yap too much on the show. so let's please not interrupt every guest you have. and i'm done with you until you learn to shut up. i'm going to let you take over
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for good. plotting their next attack. it's something they do not believe that they can control. they have laid it out that simply. and they said that it can be used by criminal or terrorist organizations to launder money. despite the efforts to do so. this is me not making this up. we know that the terrorists would love to get resources
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here. neil: it's very vital so that they can be checked. why is that crucial? >> because we are trying very hard to trace the funds would come from overseas was a organizations. when you have online gambling, you can have designated winners and losers and it's impossible fbi.egulate according to the and because of that there is no way to tell who the source of those funds are and where they -re going. it poses an enormous risk for us and we know the world is not exactly a police. neil: it would require more snooping in some way. >> yes, going back to what the law was for over a decade until the obama administration in the justice department unilaterally change it. congress passed and the president signed a bill, making it illegal to have interstate
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gambling. what happened is that it was interpreted to say no to the control of gambling like this. just a few months ago that his department said we are going to reinterpret what had been the rule and rulings of state can do online gambling. a few states have taken it up and that's what prompted the at yet or that we can't monitor the and this poses some risk and criminality and terrorism and we just can't control it. >> me the viability of a two-party system in states like new york is absolutely essential. when you have common of republicans saying that maybe he is a democrat that is not at his the other democrat, to me it's very to mccain.
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you need an intelligent debate and someone who has the resources and the ability to stand up and say that you'vv done that. neil: are not even given that i had the chance. >> exactly. >> you look at new york city. you one-party system. you have a clear majority and its way to the left of what they believe is right. >> they had a very low turnout. we didn't have a viable two parties to stem in the city. we need a viable two-party system in the state and i work hard you try to achieve it and i'm hopeful that we will have a strong statewwde ticket this year. but i will campaign hard to help get elected and we know it's an uphill fight. but you don't surrender. >> governor, thank you so much. in the meantime, new food labels are on the way. they're spending tens of millions of dollars on these for
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them to simply go away. is he crazy or is illegal? a lot of you can't wait to get her hands on it. and once you do you might get arrested for putting them on. the's this kid. coach calls her a team player. she's kd of special. she makes the whole team better. he's the kind of ayer that ps the puck, horsehide, bullet. right where it needs to . coach calls it logistics. h's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad.
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talked about companies revamping alternate tricia and labels. the fda released a new label with guidelines today. here's the old label that we would all and come to love. here is a new one. okay. this is what we are going to be
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seen on the shelves from now on. >> you see a big difference between these two labels? >> no, i do not. not especially. >> the calories are a lot larger >> i take a look at these things no matter what. >> to rethink the government should regulate this or food labels? >> yes, you want to be able to read. >> no, the government should not be regulating us. neil: you can e-mail us your reactions on the show here. in the meantime, the band plays on. google classes fighting. saying that google is also
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saying that they are doing nothing wrong either. >> they are an easy target. but the reality is that the classes are just like cell phones. neil: you wouldn't wear them if you weren't using them? you might keep them on and none of your stopper pullover, then you can take them off. but it doesn't mean you are using them in appropriately while you're driving. neil: google could probably save themselves a lot of trouble. but i guess they look like this star trek boxing.
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so what do you think of this and whether google has a heap of legal problems on its hands? >> i think we are just at the beginning stages of this whole thing. google may very well integrate this can't that and to the cause. and you will see that they are in the guide out there who created this concept and then these things will be on the. >> but the problem is google. and i know that they already have that display on her. i'm talking about google invading our privacy and then using that geo-locating concept for marketing and those kinds of things you. >> it sound like a trojan horse. they get in and then they collect all of the gimmick if they can be. the same way that a cell phone could be.
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same thing. you can pick up your cell phone and pretend to be using it. if the same sort of thing. neil: you can't bring a video camera into yankee stadium. or you could bring your iphone and so i always think that that is asinine. but we do have a double standard. where do you think it's going? >> today's problematic. and then they know that you are taking a video of something. >> are there so many different ways to do it. >> exactly. but you want to have anonymity. you don't want that to be put out on social media without your permission. they do have the right to seek
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this out. it's markings are going to change. we know that you are taking pictures. i don't want to taking a picture of me were using face recognition software without me knowing it. >> we are showing images. how can you walk when you're singing on this stuff? >> you can click that on a non- >> in the meantime it looks kind of bizarre. >> just having a non-come i think that is where the problems will arise. >> at the little a little creepy. that's my opinion. anyway. we know the president wants to shrink the pentagon budget. but don't hold your breath thinking that you're going to get a check for the savings. ba.
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neil: yesterday we discovered a story about how american airlines has quieted ended bereavent fares. flyers who need a last mine flight because of a family member's death now have to pay full price, the media is catching up to us, sorry "l.a. times" we broke the story first, youiewersa the home, thiss ork you watch to get it first, fewer soldiers, more labels,hat sums up where financial priorities lie in washington these days, president moving back to roll troop levels to where they were before world war ii, yet celal kating millions, we super sizepending on almost everything else. first on military matter, good
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thing in bad thing? >> remember ronald reaga strategy of the peace through strength. so you have to say, one of the prime responsibilities of the federal government is to safeguard our security and our freedoms. the way you do that, you say to yourself, w are the problems out there, and how are they evolving in to the future? and what do we need to deal with them effectively. taking advantage of opportunities. then you build our milary capacity based on that strategy. you don't go at it the other way, say we only he a nicl now, what can you do with that nickel. you have to fightor the strategy. neil: do you believe as president ds or at least defense department now seems to, that we don't need this
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membership soldiers becau they are around from the war in afghanistan, and war in iraq. we're unwinding from those areas, we don't need to be staffed to the dreee were? >> that may very well be true. on the other happened, i don't get the feeling that we have started from the sense of strej, th streablg, the world is awash in change, there are threats and ago fabulous opportunities to advance the anda of freedom, so weave to be ready. neil: secretary, i'm looking at putin, in the eyes of the world, they might not like him but they fear him,ncreasgly more so an our own president, he has done a lot of sabre rattles whether in ukraine or now, even in cuba. what do you make of what he is up to? how to we respond? >> he is a strong, autocrati
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kif leader, he actuay playing from a weak hand. so, certainly, he needs to see the strig on ou strej on our part, i remember when i was i marine corps bad camp at start of world war ii, sergeant hands me my rifle, and he say, take good care of this rifle, this is your best friend. and remember one thing, never . this rifle at anybody unless y u are willing to pull the trigge no empty threats. it is very impornt, that we conduct ourselves inuch a way that when we say something, people take us atur word, and we know we'll follow-up. i am #r-ng thi reading a book about roosevelt and tt, but tey, his motto was speak
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softly but carry a big stick. neil: i am wondering too in ts age, talking about repubcans of this age, that they speak loudly, for example on issues of spend s but, they don't ever cut spending, a lot of waiting until i guess, keepingheir poer dry for november midterm elections hoping then they might take the senate, a bigger majority in the house, and able to respond, but our debt keeps filing up, is that a good strategy? >> the spending problem haso be addressed in terms of the entitlent programs. and you have to face up to the and social security is easy to fix. really should not be controversial. and our medical health costs are soaring. and it is not that difficult to figure out what to d about it, but we have to get at those things, that is the big spending.
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neil: but we don't do that -- >> i might say also in the military, that a lot of the so-called entitlements there pensions, and health costs, and so on are also spending out o control, the more that happens the more it drives out the fundamental functions of vernment. neil: to your points on that issue and others, presint passed on even minor cost of livi adjustment on some benefit programs in his latest budget blurint tt so-called bargain he made with speaker boehner, and republicans balked on doing anything that would remotely hurt veterans, deemed cruel to them, if we can't me minor adjustments we'll have big problems, right? >> right, we have to be able to do it i remember in the days wh i was in office, ronald reagan of predent, tip o'neill speaker the house, somebod asked roppa ronald reagan if
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tip was h add ver adversary, he sd not after 6:00, they could work, get together, get a by, a work a deal. neil: there was a time. >>hank ou, sir. >> . neil: you think that california is a big old la-lalaand, would it bug you less if it were 6 l.a.-l.a. lands. if you've got copd like me... ...hey breathing's hard. know the feeling? copd includes emphema and chronic bronchitis. spiriva is a oe-daily inhaled copd maintenance treatment that helps open my obstructed airways r a full 24 hours.
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neil: all right this is the state of calornia, right now. very big ste, and pretty. this is how california could look not long from now. like postwar iq.
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from one big massivetate to 6 smaller states irk a silicon valley vture capitalist is shing the plan, collecting signatures to push it for a vote later this year, saying that california is too big with 40 million residents -- chop the ste to smaller chunks to get things moving, former califora vernor gray davis with what he thinks, welcome. >> good toe with you. neil: what do you thi? >> a real uphill battle, i think that jerry brown has pron he took a deficit nowt i a surplus, rating agents have given us better marks. i tnk he is making progress in terms of environment and other issu. i question whether we need to devide the state to 6 pieces, but even if weid.
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the u.s. senate would have to apove the admission of 10 new senators. in to their body, diluting their power. why does senator fro nevada or alabama or ohio want to giv california 10 more senators? neil: his logic does make sense, at leastase level, thats that it is a very big state. unwieldy state,n so far as interests and you know even physical concts are very desperate throughout the state, i don't know that means you have to have 6 different states, butt makes it disfunctional. what do you make of that argument and why the 6 pieces? >>'t know why the 6 pieces we have n and south carolina, and north and south dakota, two states is possie, that was tried 1 in late 1850s, but.
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there is no way on earth that the u.s.ongress is going to dilute itsower and give more power to california. as you know they hate athing big, wre the bigge state, we tend to have to fight hard for what we're entitled to. neil: they might welcome instead of one big old pain in the butt, 6 pains in t butt, is this any different, when texas, state wants suss ead. is this different? >> i think that people natural he would lik smaller government, governmen closer to people, i get that we have cities and municipal government, and local government, but you know 6 new states, that is god knows how many new regulations, are they keepshe laws that used to be laws of californi just to get water, 2/3 of people in sfral and southern lifornia, water has to go throh 3 states, and the national guard does that get divideup in 6 ways, there is a
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lot of problems, trust me, business -- running a business, you have 6 states passing regulations, you could be sure they will be different froone state to the other 92 switching ges,. neil: switches gears, schwarzenegger is aking movies again, how do you get along. >> i like arnold, i have always liked him, he was the good to me, i supported him on a number of thing where we shared similar views, i wish him well. i was distraugh over h marital difficulties, i hope somehow he and maria reconcile but i have nothing but good thouts about arnold. neil: amazing, w were gamee@ througject els man through a very -- process, why weren't you
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not better or wereou quietly at home beating up your dog? >> n look, i got elected twice. i got elected and reelected. we have a lot of positive things done, first greenhouse gas bill in america, reforms in schools, one thing that is meaningful, we were first state to apply the amber alert, that include -- with freeway messaging signs, like 162 important in a row were found. neil: you could follow and monitor it. >> it scared you know what out of the driver, the driver wld just pull over, a lot of good things happened. i had my day, arnold had haday, now we haveovernor brown that is life. ne: governor avis, a class act, thank you. >> fox business alert, president
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neil: we knewore layoffs would come, we just didn't know they would be this quickly, j.p. morgan announcing 2000 more will go, they are adding jobes in -- jobsn other areas but still cutbacks could continue, it might have t do with billions in finds they have to pay to uncle sam with the whole
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mortgage mess, what do you think? >> this is a long time coming. talk abo the feesnd finds to face, t then you can look at regulatory hurdles down the road, right now there is not a lot of business opportunies other than a rising starket, if that goes away, you will see more layoffs down the line. neil: really pblem. derrk, is what happening in mortgage business most of the layoffs have been in that area, which slowed markedly, they might are to picks layoffs up? fire more? >> right, look at landscape, with mortgage rates slightly going up, fewer people are refinancing, right now ahange in consumer behavior, fewer people are going into banks or doing more on-line banking, atm, the bottom line if a person,
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works f a bank, they needo ask themselves, as part of their own career plans is technology replacing my job any time soo the bottom line, don't think that the economy is suffering because of the job cuts. changes are occurring. we wt to make sure that people are ahead of this. planning for their personal economy. there is importantight now. >> quickly, to that points, do you think had note been billions in -- not been for billions in finds the loffs wouldld be happening. >> i think that the fes are a big piece of it but we're seeing changes and trend in the much am. people need to be aware of that. neil: next up, this. all day on this, you have been hearing a lot about your retirement. tonight look at how big a role wall street should play if your retirement. the president was bashing how much companiesere making, you say it has their stocks soaring
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a lot of 401(k)s are soaring too. >> last year, one year a, t average 401(k) balance was $10 $100 7,000, right now 1 40,000. when you start talking about bashing wawall st, you have to think of main street, and retirement plans, you want ese companie to thrive on wall street, that is going to hp main street america retire soon. neil: derricc? >> i think he makes a great points. people are realizing big and bigger 401(k) balances but it presents its own s of problem, for many, 401(k) is tir biggest retirement asset, if they don't know how to manage it, they coold lose it all, g into retire. needing government assistance. key, as part of a financial plan know how the moneys invested
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and how much risk to take and when to take it off the table for yur specific situation, justtbecauseou may see the market red-hot, does not mean it is red-hot for our situation, kn your personal economy. >> neil, nobody got rich of the asset allocation, you should concentrate on the big -- s&p 500 companies, you will be fi. neil: thank you, two different viewsn this, many of you are asking this. >> what is this deal neiln. neil: i'll tell you what's the deal, your questions answere i ys say be thman with the plan
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but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the lynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, eeclly those who ar or who may become pregnant, and children suld avoid ct where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious sideffects could includ increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feetr body swelling, enlarged or painful breasts, problems breathing while sleeping
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and blood clots the legs. common side effects include skin redness or irritation wherapplied, increased red blood cell count, common side effects include skin redness headhe, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. common side effects include skin redness headhe, diarrhea, vomiting, and increase in psa. coach calls her a team player. she's kind of special. she makes thwhole team better. he's the kind of player that puts the puck,ial. horsehide, bullet. right where it needs tbe. ach calls it logistics. he's a great passer. dependable. a winning team has to ha one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. my graher.ther. them.
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like carpools... polly wants to know if we can pick herp. yeah, we n make room. yea [ me announcer ] ...office space. yes, we're loving this communal seating. oh, it's great. yeah. [ male announcer ] the best thing to share? a data plan. ♪ new at&t mobile share value plans for business. our best value plans ever. for example, you can get 10 gigs of data to share. and 5 lines would be $175 a month. plus you can add a line anytime for $15 a month. sharing'severeen better for business. ♪ neil: in our never ending quest to prove rear always looking after you, segment devoted to yo and thing that mattero you, you ask, i answer, it time
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for, what's the deal, neil? >> what's the deal, neil. >> what's the deal, neil? >> what's the deal, neil. neil: funny you should ask. laura, neil, why do politicians lie, they are not wired t to tel you the truth. i have bee wondering about something, i have seen a pattern, you are obsessed with money. dot youould too much so. you should coup your lucky stars i am, monitoring every penny, i a health care law i warned you about, you might want to reframe thatuestion! why aret other tv personalities as obsessed withoney. and clara in yahoo!, you strik me as very arrogant. clara, you strike me as very
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rude. and who is your favorite tv personality? me. have you been fired in your life, you are about due. i a not, but i am about to block you from my e-mail sver for lif you are aut due. in texas, cavuto y should cover the oil markets more, i never hear you discu keystone, all those wacko solar wind types. you should watch the show. victor, you say you like stock for the lang hall, what is the long haul? in ven rally 10ears or more. you always into better than if the same money were in a savings acnt. i believe in capitalism, and the power of compounding and of time. pete in, new york, my wife and i want to buy a house but we carry
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a lot of debt, any gooo stocks you can think of? pete, timeo wake up. there are no maging imbullets, try the simple magic of paying off high interest rate credit card debt, not paying someone else 18 per or more is the same as paying your 18% or more once it guess away. tl, i have mar gelle marveled over your career, how do you stay so young, fresh, and beat come, i drink the bloodf my critics, on the same subje, m, wtes, i'll never forget one of your clong commentary you said that secret to a suessful career is never taking success forrant, could you explain tha to my kids who are older n. they mht appreciate it, happy to, this is for your kids,
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listen to your dad, and watch what he watches, and no matter how smart you think you are, someone els thinks they are smatter, difference is not how much you know, the different how much harder you work with what you know. i know of our illness battle but you never whine 'it you sm successful, don't you think that makes big difference in our outlook there no doubt, but i tell, i was same guy before a lot of this so-called success, so i figure weave two choices, to be miserable or happy, i choose happy, life is short, who wants to hear you whine? finally, to that very ., from terra in london. with a british acts since, mr. cavuto, what proportion of rich people you cover ares asses? >> i have known rich jerks, and
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poor jerks, the measure of any man or woman is not how they handle the things that go well but how they deal with thin things that do not, the real asse in life are those who dent get thatn't get that, and apprecia life. >> cahave you o cavuto is the best in the time slot. -- except for maybe, life sports on wednesday, and friday, but, you are the best. even better than o'reilly, less he has miller or varney on or kelly, i am a rock sto. al star, you like to come off on tv as warm anduzzy, but i bit you are just as a condescending yering jerk in real life, you lookike the kind of guy who would step on a
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homeless person. kyle, was that you? ralph nader is here tomorrow, i am going to end it there you better be nicer tom ♪ john: do you realize how hard it is to get the young kids out of the house? >> too many video games, they don't know what's going on around them. we want our young people at entitled slackers? ♪ ♪ john: is their culture raunchy? >> miley cyrus is a bad example of the kids. ♪ ♪ john: madonna and i are baby boomers. >> you young people should be like us. ♪ double mocha.

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